The Ukraine Football Federation (FFU) has confirmed it is in negotiations with Sven-Goran Eriksson over the national team's managerial vacancy.
Ukraine have been searching for a new boss since Oleg Blokhin resigned to take charge of Dynamo Kiev in September, with Andrei Shevchenko and Harry Redknapp among those linked with the post.
But former England boss Eriksson, 64, has now emerged as the leading candidate and talks have begun with the country's governing body.
"An offer has been made, negotiations are under way," a spokeswoman for the FFU said.
Eriksson, who has also coached Mexico and Ivory Coast at international level, has been working as a technical director for Thai club BEC Tero Sasana since September.
The Swede's last managerial position was with Championship side Leicester City, but he was sacked last year after a slow start to the 2011-12 season.
Ukraine face an uphill battle to qualify for the 2014 World Cup as they currently sit second-bottom of Group H having lost one and drawn two games so far.